Forex trading signals and analysis for GBPUSD – 24 June 2014

Forex trading signals and analysis for GBPUSD – 24 June 2014

Analysis:

The market is experiencing a very low volatility with moving range of most of the pairs is less than 50 pips a days. GBPUSD is not an exception, it is moving around 1.700 – 1.70600 for 3 days already after making a fresh 5.5 year high. The current medium trend of GBPUSD is still bullish but the short term trend is not clear. We expect that GBPUSD will move in more clear direction after Carney speech on Thursday.

There will be UK Inflation report today and we expect GBPUSD will move out of the range after the news.

Our strategy today is to looking for selling signals if GBPUSD move up to test 1.70500 zone again before Inflation report.

Screenshot 2014-06-24 10.37.54

Forex Trading Signal:

+1.7300

+1.7040– 1.7060

Support zone:

+1.700

+1.6920

+1.6840

+1.6780

+1.6725

+ 1.669

+ 1.666

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